Residential solar panels are becoming a big thing in recent times. Where solar energy was once costly and inaccessible, it has now become quite a viable option for individuals who wish to embrace clean and green energy. There are many reasons why homeowners may consider installing solar panels within their grounds or on their rooftops, but certainly, there are several benefits that immediately arise with the implementation of solar power in the home.
Lower Or Zero Electricity Bills
From the moment you install a solar energy system for your home, you have the benefit of paying potentially zero electricity bills, depending on the type of system installed and your household energy consumption, as well as the weather conditions. This is already a reality for other households who have adopted solar energy, which they often use in conjunction with energy from the power grid when usage exceeds energy generated, like on hot summer days when the air conditioning is on full blast, or very cloudy days with precious little sun. Nevertheless, even in cloudy parts, you should get more than two hours of sunlight per day, and sunny locations will on average have 5.5 hours of sunlight per day. Solar panels do continue to draw energy when it is cloudy, or the sunlight is diffused or indirect. Cloudy days usually produce around 10 to 20 percent of the power that could be generated on days with bright sunshine by installing panels.
The average annual energy expenditure per person is $3,052 including transportation and residential energy. In a household of five people, for example, that’s a whopping $15,260 spent on energy every year. Solar power reduces or even eliminates these costs and offer savings in the long run. Think you might sell your house? Solar panels significantly improve your resale value, as most home buyers realize the benefits of having a solar energy system already installed. Most homeowners see a $5,911 resale value increase per kilowatt installed. In reality, if you install a 3.1-kilowatt system, your home’s resale value could shoot up by almost $18,000!
Tax Rebates And Credits
With all the tax rebates and credits out there for solar energy systems, your solar panels could actually be paying you. First, 30 percent of the total system costs from equipment and installation go to federal income tax credit – a savings of $7,500 on a system worth $25,000. Add the state and local rebates, and Solar Renewable Energy Credits (SRECs), and your total cost may be halved. SRECs are generated throughout the year, which you can sell to utility companies to make extra money.
Reduce Fossil Fuel Energy
With more solar energy used, which is a clean, renewable and sustainable form of energy, it means less energy needs to be derived from fossil fuels. This helps combat greenhouse gas emissions and depleting finite natural resources such as coal and natural gases. Having less air pollution also contributes to cleaner air and better health by installing solar panels.